Bloomberg Unveils Global Law Firm Rankings for M&A
New York (ots/PRNewswire)
- Sullivan & Cromwell and Linklaters Led the Way in 2004; Huge Rise in Activity Seen in 2004, Very Active Season Expected in 2005
Bloomberg, the leading global provider of business and financial news and data, today unveiled its Bloomberg Law Merger, Acquisition and Divestitures rankings for 2004. The global rankings are compiled by Bloomberg as part of Bloomberg Law, a comprehensive legal information, news and analytics resource accessible on the Bloomberg terminal at BLAW <GO>. The Bloomberg Law rankings are based on the total value of mergers, acquisitions and divestitures handled by firms worldwide. The rankings are available real-time to Bloomberg users as part of the all-inclusive Bloomberg terminal, also called the Bloomberg Professional(R) service.
US Results
According to the year-end Bloomberg Law rankings, New York-based Sullivan & Cromwell was the top firm for U.S. mergers, acquisitions and divestitures in 2004, working on over US$278.4 billion worth of deals. Sullivan & Cromwell beat out last year's top firm Skadden Arps Slate Meagher & Flom, which totaled US$264.9 for 2004. Sullivan & Cromwell secured the top spot in part by handling Aventis SA's US$72.7 billion takeover from Sanofi-Synthelabo SA. The transaction formed Sanofi-Aventis SA, and was the year's second-largest deal. Wachtell Lipton Rosen & Katz (US$260.0), Linklaters (US$218.7) and Cravath Swaine & Moore (US$197.7) rounded out the top five law firms that handled transactions in the U.S.
All of top firms on the Bloomberg Law list saw a large increase in activity from 2003, especially in the first and fourth quarters of 2004.
Top Ten Law Firms Advising U.S. Buyers and Sellers on Announced Deals,
2004
All figures in US Dollars
Firm Value (billions)
Sullivan & Cromwell $278.4
Skadden Arps $264.9
Wachtell Lipton $260.0
Linklaters $218.7
Cravath Swaine $197.7
Simpson Thacher $196.3
Clifford Chance $179.2
Arnold & Porter $146.8
Davis Polk $142.6
Slaughter and May $137.6Europe Results
In Europe, London-based Linklaters was the top firm, advising on 154 transactions that totaled over US$177.9 billion of deals, three times the firm's 2003 numbers. Their biggest deal was Sanofi-Synthelabo SA's US$72.7 billion takeover of Aventis SA and Royal. Linklaters beat out Clifford Chance (US$157.3), Slaughter and May (US$136.9), Sullivan & Cromwell (US$106.6) and Cravath Swaine & Moore (US$103.0).
Overall, Europe experienced a 67 percent increase in value of announced mergers, acquisitions and divestitures as deals totaled over US$864.2 billion in 2004. Much like in the U.S., the first and fourth quarters were the most active in Europe.
Top Ten Law Firms Advising European Buyers and Sellers on Announced
Deals, 2004
All figures in US Dollars
Value (Billions)
Firm 2004 2003
Linklaters $177.9 $55.8
Clifford Chance $157.3 $59.7
Slaughter and May $136.9 $47.9
Sullivan & Cromwell $106.6 $17.9
Cravath Swaine & Moore $103.0 $7.5
Bredin Prat & Associes $95.2 $15.5
Wachtell Lipton Rosen & Katz $91.7 $8.2
De Brauw Blackstone Westbroek $83.1 --
Davis Polk & Wardwell $80.6 $41.3
Arnold & Porter $77.2 $11.6About Bloomberg
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